Argentina raises interest rate, devalues peso after shock primary election

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4. Excellent recap. Thank you.

The only thing I'd add is that the foreign debt (including private borrowers) is currently at $276 billion - of which $189 billion is public foreign debt.

But it might as well be $400 billion...or a trillion. Short of Argentina discovering a Saudi-sized oil field (or something like it), it's utterly unserviceable.

They were close at one point to getting ahead of it, around 2010/11 - until Paul Singer and the other vultures ruined Argentina's credit with their fraudulent lawsuits.

And of course, the late Judge Tom Greasa - who played as a kind of Aileen Cannon for Singer, siding with him brazenly every step of the way (allegedly for a bribe).

Famously, he even attached every other bondholders' payments (!) until Singer got his way. Macri and his borrowing binge in 2016/18 did the rest.

Thanks as always for your insights, and good vibes Alexander. All the Best!